Gold prices drifted lower on Tuesday as the dollar climbed higher against most of its major peers and bond yields moved up amid rising prospects of stricter policy measures by the Federal Reserve and the European Central Bank to combat soaring inflation.
The dollar index climbed to 102.17 in early New York session, but pared most of its gains subsequently and was last seen hovering around 101.75, up 0.08% from the previous close.
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Market Analysis
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.